Answer
The major product formed is 1-methylcyclohexanol.
Work Step by Step
The major product formed is organomercurial 1-methylcyclohexanol.
The mechanism is Oxymercuration
The following are the steps:
1) The arrow goes from the double bond to the Hg and back from Hg to the carbon. This electrophilic attack forms a mercurinium ion.
2) Ethanol opens the ring to give an organomercurial alcohol. It attacks on the most substituted carbon.
3) Deprotonation of the ethanol happens, leaving behind a organomercurial alcohol.